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Transcription:

Slide 1:

Hello! I’m Dan Lyles with Lyles Insurance. In this video, were going to go over late payments on your auto insurance and how it hurts your rates.

Slide 2:

Drivers who have a habit of being late on their auto insurance payments do not realize just how bad they hurt themself with rates. This video is going to go over some key points of what you need to be aware of and need to know. And we’re going to go over some tips on how to better handle things if you come to the situation where your money gets tight at the same time an insurance payment is due.

Slide 3:

It’s important that you understand that there are huge differences between auto insurance companies and how they deal with late payments on auto insurance. For example, some are very strict and they will cancel your policy if you’re even a day or two late. While other companies, they’re a little more lenient, will you give you some more time. And when it comes to late fees, some companies are strict on late fees as well. While others might give you some time before they tack on any late fees. But the key thing to keep in mind here is, every company does it differently.

Slide 4:

There are basically four ways that paying late can cost you on your insurance premium. And I’m sure you’re probably pretty aware of the first three: late fees, cancellation fees, and reinstatement fees. But one that often goes unnoticed are increased premiums after your expiration/renewal date. And we’re going to get into this a little bit more.

Slide 5:

Fees can add up very quickly! And I’m not talking about those of you who make most of your payments on time, and only pay late on rare occasions once in a while. That’s not that big of a deal. But if you have a habit and a pattern of paying late quite often, that’s where you’re really going to cost yourself.

Slide 6:

I want to discuss the increase in premium after your expiration/renewal date. Every six months (or for a small percentage of you twelve months) when your policy expires, you’ll get a renewal offer from the company that will reevaluate you. And with all other things being equal, drivers who been paying late on their premiums have a much higher chance of their rates going up. Whereas drivers who make all or most of their payments on time, have a much higher chance of their rates either going down or staying the same. So let’s say your rates went up. If you’re wondering why, go back and look and see how often you’ve paid late. That may be the reason.

Slide 7:

Here are some other key points that you need to be aware of. What happens if you’re short on money with a payment due? Well, this happens on occasion to all of us. Let’s say that you have a policy that’s due this coming Friday, and you don’t get paid until the following Friday. What I have found is that many companies will work with a customer as long as you call them directly and ask if you can get a payment due date extension. Now you have to do this before your policy is due. Don’t wait until it’s late and then try. That won’t work. But I have noticed the companies for the most part are pretty flexible and will work with you there. Also, if you only pay late once on a rare occasion, most companies will offer a one-time wave of late fees. So you may want to check on that also. But in both of these cases, you have to call the company directly yourself. Your auto insurance agent does not have the authority to change your billing. Only the company can do that directly. And finally, if you get a cancellation notice for non-payment, it will say, for example, “your policy is set to cancel on such and such date if we do not get a payment”. Keep in mind that they mean 12:01 AM of that date because a lot of people get burned by this. So if your policy is set to cancel for non-payment on a Friday, you want to make sure that you have that paid by Thursday evening or night.

Slide 8:

For those of you who live in Ohio, Indiana, Michigan, Pennsylvania, Virginia or West Virginia, if you would like for me to personally run you a quote, I’ll be happy to do so. And I’ve listed a page on my website where you can go online and get a quote. Or if you’d rather just get a quote by phone, I’ve also listed my phone number. Thank you for watching and have a great day!

Transcription

Slide 1:

Hello! I’m Dan Lyles with Lyles Insurance. And in this video, we’re gonna go over car insurance with a speeding ticket on your record, and why shopping around for a lower rate is a must.

Slide 2:

The topics we’re gonna cover include speeding and speeding ticket statistics, how auto insurance companies handle speeding tickets very differently, the total extra cost of a speeding ticket (this means what you pay besides the speeding ticket fine). We’re going to go over some other key points that you need to know about, and also explain why shopping around for a lower rate is a must when you have a speeding ticket on your record. And finally, we’re going to show you where to find the best rate.

Slide 3:

So first, let’s go over some statistics. Speeding is the number one factor in causing fatal accidents. You may have thought DUI or distracted driving was, but in fact, it is speeding. Nationally, 112,000 speeding tickets are issued each and every day, which is nearly 41 Million tickets a year. And the average fine for a speeding ticket ranges between $115 – 135. But it can be a lot higher than that in some cases, depending on the jurisdiction and circumstances. And according to the USA Today, the average speeding ticket will increase your insurance monthly premium rates by $23 a month.

Slide 4:

This chart will give you an approximate cost of how much your insurance will go up as a result of a speeding ticket. The left column shows increments of different amounts. And as I mentioned before, the average cost of a speeding ticket is about $23 extra a month. The second column shows how much extra a year that is. The third column in the highlight shows how much that is over three years, which is how far auto insurance companies usually go back (and some even go back longer). But the vast majority of them go back three years. So you look and see, $23 a month average increase, you’re between an extra $720 – $900 that you’re paying. That’s far more than what the fines are.

Slide 5:

It’s very important that you understand how auto insurance companies rate speeding tickets because they all do it very differently from one another. For example, with some companies, it matters how fast you were caught going over the limit, whether the company sets it at 15, 20 or 30 miles an hour over the limit, whatever. They will ding you more severely if you go above that threshold. With other companies it don’t matter (a speeding ticket is a speeding ticket). Also, what’s on your driving record besides the speeding ticket matters. For example, if your record is clean all except the speeding ticket, that’s not going to ding you as bad as somebody who has multiple violations, and gets a speeding ticket. But how much it matters still varies with each company. And companies rate the severity of the speeding ticket much differently than others. With some, they consider it very minor, others it’s more costly. And like I mentioned before, most companies go back only three years on your driving record for speeding tickets. But some go back five years.

Slide 6:

Here are some other key points that you need to know. Speeding tickets (like any only violation), if you’ve recently been issued a ticket, you won’t see that increase on your auto insurance premium until your policy expires and renews. So for example, let’s say I have a six-month policy that expires/renews in January. And then, the following month in February, I go out and get a speeding ticket. I won’t see that increase on my premium until my policy expires again in July, and I’ll see the increase on my renewal offer. And likewise, once enough time passes that you hit that three year anniversary date of having a speeding ticket, your rate won’t drop until expiration/renewal period either…. Number 2: Flying under the radar. Many companies do not check driving records every time. It’s because it’s too expensive. So instead, each company has their own way of randomly selecting which drivers they run a motor vehicle report for and which they don’t. As a result, a small percentage of you may get lucky, and the company may not discover your ticket for a little while. And as I said, that’s just a small percentage of you. So if it happens, again, consider yourself lucky!

Slide 7:

Number three: Six month policies versus twelve month policies. Most auto insurance companies only offer the six-month policy. However, some do offer the 12 month. And if so, which one should you choose? Well, to make it very simple, if your driving record is completely clean and all drivers on your policy are as well, then it really doesn’t matter. Choose whichever one you like. But if anyone has a ticket or accident on their record, you’re better off going with the six-month policy for reasons I mentioned on the previous screen. And number four: If you’re having a really bad day and get multiple violations from the same incident. For example, let’s say you’ve got a speeding ticket and a seat belt ticket, or a speeding ticket and a DUI, whatever…. Anytime that you have more than one violation from the same incident, the good news is that most companies only take the most severe violation. And that’s all that gets counted against your insurance rate.

Slide 8:

So as you have seen how different companies handle speeding tickets very different from one another, it goes without saying how important it is to shop around for the best rate if a speeding ticket has sharply increased your auto insurance premium. I can’t stress this enough!

Slide 9:

How do you find the best rate with a speeding ticket or multiple tickets on your record? Your best chance of getting your lowest rate is to quote with as many auto insurance companies as you can. The best way to do that is to simply get a quote from an independent auto insurance agent. And the reason is, they have several companies. And they can take one quote and get you a quote from multiple companies at once. This is far more time efficient than trying to get quotes with one company at a time. That’s a mistake a lot of people make.

Slide 10:

And for those of you who live in Ohio, Indiana, Michigan, Pennsylvania, Virginia or West Virginia, if you would like me to personally run you a quote, I’ll be very happy to do so. I’ve listed my webpage to where you can go on my site and get a quote online. Or if you’d rather just like to get a quote over the phone, I’ve also posted my phone number. Thank you for watching, and have a great day!

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Transcription

Slide 1:

Hello! I’m Dan Lyles with Lyles Insurance. This video is a buyer’s guide for buying motorcycle insurance.

Slide 2:

Motorcycle insurance is very similar to auto insurance in some ways, and very different in other ways. Knowing these similarities and differences will go a long way in helping you select the right type of motorcycle insurance coverage, and also help you get a good price. I’m also going to cover some key points that you need to know.

Slide 3:

Let’s go over the basics of a motorcycle insurance policy. And this is where motorcycle insurance is very similar to car insurance. They both have the same five different parts (or components) to the policy. Number one is liability coverage. This is required on all motorcycle insurance policies. And it covers the other guy if you cause an accident. Uninsured or underinsured motorist coverage pays you if the other guy causes an accident resulting in you either being injured or having property damage, and the other guy either wasn’t carrying liability coverage like he’s supposed to, or didn’t have enough liability coverage to pay for all of your damages.

Slide 4:

Medical coverage: this pays you if you are in an accident regardless of who was at fault. In some states, medical coverage goes by different names. For example, medical payments, medical benefits, PIP (which stands for personal injury protection). But no matter what it’s called in your state, it works about the same way. And the fourth and fifth coverages kind of go together. It’s what people refer to as full coverage. Collision coverage pays for damages to your bike that resulted from an accident. Comprehensive coverage pays for damages to your bike that resulted from anything other than an accident (such as fire, theft, vandalism, hitting a deer, etc.)

Slide 5:

Here’s a quick short list just to show you the bikes that can be insured. And as you see, there’s a pretty broad range here.

Slide 6:

There are two major differences between motorcycle and auto insurance. And the first one is pricing. If you compare apples to apples, meaning having the same exact level of coverage in all five components, a motorcycle policy is going to come out cheaper than an auto insurance policy almost all of the time. And that’s mostly because of a couple reasons: Motorcycles aren’t used as frequently as regular autos are, and weather becomes a factor. And speaking of weather, unlike autos that are driven throughout the year, motorcycles have an off-season where bikes are rarely ever ridden. Factoring this in lowers the rates even further.

Slide 7:

Here’s a key tip for bikers that have older motorcycles, and this will also work for many of you who only need liability coverage on your motorcycle. Every motorcycle insurance company has a minimum price that they charge each year for a motorcycle insurance policy. And, what I have found is that many older bikes tend to rate lower than what the yearly minimum price is. For example, let’s say a company has its minimum floor at $75 per year. And so when I have anybody that has that price on their quote, I will up coverage and sometimes get the same price. So that’s a good trick that you need to be aware of.

Slide 8:

As far as finding the best rate, your best bet is to find an independent motorcycle insurance agent. This way, you can get multiple quotes at once instead of quoting with one company at a time.

Slide 9:

If you live in Ohio, Indiana, Michigan, Pennsylvania, Virginia or West Virginia, and you would like for me to personally run you a motorcycle insurance quote, I’ll be very happy to do so. I’ve listed a page here on my website where you can get a quote online. Or if you’d rather just call and get a quote over the phone, I’ve also posted my phone number. Thank you for watching and have a great day!

Transcription

Slide 1:

Hello! I’m Dan Lyles with Lyles Insurance. In this video, I’m going to help you go through the steps of getting Indiana non-owner SR22 auto insurance quotes.

Slide 2:

For many Indiana drivers who have had their license suspended and are trying to get their license back, buying an SR22 auto insurance policy is usually the last step you need to take. But what if you don’t have a vehicle? You can’t buy regular auto insurance without a vehicle. So now what?

Slide 3:

The solution is to buy a non-owners auto insurance policy. Its official name is a Named Operator auto insurance policy. It’s a special type of auto insurance made just for drivers who don’t have a vehicle, but they need liability coverage. And, if you need an SR22 filing or an SR50 filing (which I’ll talk more about later), both can be attached to a named operator policy just like it can regular auto insurance. And if you buy a vehicle later on, the good thing about this policy is, you can easily convert it to a regular auto insurance policy in just a few minutes.

Slide 4:

Let me quickly go over what an SR22 is and what it does. Contrary to popular belief, an SR22 is not auto insurance. It just attaches onto some type of auto insurance policy. It acts as a monitor, or as a tattletale, as I like to call it. It lets the Indiana BMV know that you’re carrying the liability coverage you’re supposed to be carrying. And if you ever cancel on a policy, the insurance company is required by law to notify the BMV. And then your license will be suspended again until you either reinstate the policy, or put a new policy with another SR22 in place of it.

Slide 5:

Also, let me go over an SR50 filing because this is going to impact a small percentage of you, especially those of you who have had your license suspended prior to 2013. In the past, Indiana always used SR50’s instead of the SR22’s. In 2013, the law changed and they did away with the SR50’s. And then they went completely to the SR22’s that most other states use. But drivers who were charged before the law changed can still be grandfathered in to the old SR50. However, very few companies still write SR50’s. They only write SR22’s. The good news is, you’re allowed to substitute an SR22 and work in place of an SR50. And you’re not held to the higher standard an SR22 carries. But the substitution will work just fine for you.

Slide 6:

If you’re having trouble finding an SR22 Named Operator policy, your best bet is to find an independent agent that specializes in SR22, also known as “high risk” auto insurance. An independent agent can quote you with multiple SR22 friendly companies at once, giving you a much higher chance of finding the lowest rate.

Slide 7:

For those of you who live in Ohio, Indiana, Michigan, Pennsylvania, Virginia or West Virginia, if you would like for me to personally run you a non-owner’s quote, I’ll be very happy to do so. I have posted a link there on the video that will take you to a quote page on my website, where you can get a quote online. And I will run the rates and see who comes out the lowest. I’ll also post that link below the video to make it easier for you to click on. Or if you just want to get a quote by phone, I’ve also listed my phone number. Thank you for watching and have a great day!